Managed High Yield Plus Fund Inc.

Managed High Yield Plus Fund Inc. (NYSE: HYF) (the “Fund”), a closed-end management investment company seeking high income, and secondarily, capital appreciation, primarily through investments in lower-rated, income-producing debt and related equity securities, today announced its performance for the third quarter and fiscal year-to-date ended February 28, 2013.

For the third quarter ended February 28, 2013, the Fund's earnings from net investment income were $2,839,546, equal to $0.05 per share. Total net realized and unrealized gains from investment activities were $2,480,666, equal to $0.04 per share, for the same period. This compares to earnings from net investment income of $3,102,049, equal to $0.05 per share, and total net realized and unrealized gains from investment activities of $10,167,372, equal to $0.16 per share, for the third quarter ended February 29, 2012.

For the nine months ended February 28, 2013, the Fund's earnings from net investment income were $8,541,911, equal to $0.14 per share. Total net realized and unrealized gains from investment activities were $9,206,746, equal to $0.15 per share, for the same period. This compares to earnings from net investment income of $9,399,322, equal to $0.15 per share, and total net realized and unrealized losses from investment activities were $(5,471,426), equal to $(0.09) per share, for the nine months ended February 29, 2012.

On February 28, 2013, net assets of the Fund were $140,500,829. The net asset value per share was $2.26, based on 62,153,062 shares outstanding, which represents an increase of 4.63% from the net asset value per share of $2.16 ($133,844,089 applicable to 62,105,316 shares outstanding) on February 29, 2012.

Managed High Yield Plus Fund, Inc. (NYSE:HYF)
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